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Retirement calculator

Our retirement calculator lets you see how much income you could need in retirement. We’ll help you figure out how much you need to save into your pension to achieve the lifestyle you want.

Important information - The value of investments and the income from them can go down as well as up, so you may not get back what you invest.

How the retirement calculator works

The calculator assumes a minimum standard of living based on the Pension and Lifetime Savings Association’s (PLSA), Retirement Living Standards. This includes a minimal cost required for travelling and transport, social and cultural activities, food and clothing. Please note: this amount does not include rent or mortgage costs and is based on a single person.

You can increase this to a cost that might better suit your lifestyle, by using the plus key option (in increments of £1,000).­​

The tool also has suggestions of potential additional activities you might see yourself doing in retirement each year. All costs are per person but you can increase this by using the plus key within the tile. Costs are approximate and are not tailored for individual circumstances (Calculations last updated November 2022).

What next?

Explore our SIPP

Our Self Invested Personal Pension can help you save for retirement. With a great range of investments to choose from and online dealing, you can invest from just £20 a month.

Explore our SIPP

Creating a retirement plan

Retirement is something to look forward to and whether it seems like a long way off or you are hoping to retire soon, there is nothing more important than being prepared.

Read about creating a retirement plan